How Private Equity Is Investing in Founder-Led Software Businesses

In this episode of The Private Equity Podcast, Alex Rawlings speaks with Bobby Ocampo and Sheldon Lewis, co-founders and managing partners of Blueprint Equity. Following the successful close of Blueprint Equity’s $333 million third fund, Bobby and Sheldon explain how the firm identifies and supports high-growth B2B software companies. They discuss Blueprint’s early growth investment strategy, its direct sourcing infrastructure and the role its six-person operations team plays in supporting portfolio companies. The conversation also explores the impact of artificial intelligence on software valuations, underwriting and value creation. Bobby and Sheldon explain how Blueprint has integrated multiple AI tools across sourcing, deal evaluation, portfolio operations and internal workflows. They also share why vertical software businesses with deeply embedded customer workflows may be better positioned to withstand AI disruption than lightweight horizontal software products. Key Topics: Blueprint Equity’s early growth investment strategy Raising a $333 million third fund Investing in B2B vertical software businesses Building a large direct sourcing function Supporting founders with recruiting, go-to-market and RevOps Using AI to identify, prioritise and track investment opportunities Connecting multiple AI tools through an integrated technology stack Underwriting software businesses in an uncertain market Assessing founders in minority growth investments Moving quickly without creating employee burnout Timestamps: 00:00 Introduction 00:28 Blueprint Equity and the successful Fund III raise 00:53 The firm’s early growth equity investment thesis 01:43 Building the team and operations function 02:50 Common mistakes made by investment firms 04:21 Underwriting software businesses in the AI era 06:33 How Blueprint structures its value creation team 07:41 Recruiting and institutionalising portfolio companies 08:35 RevOps, reporting and financial visibility 09:53 How Blueprint uses AI internally 10:37 AI-driven sourcing and opportunity prioritisation 11:06 Using proprietary data in underwriting 12:32 Blueprint’s AI technology stack 14:01 Building a genuine direct sourcing strategy 15:24 The resources required for proprietary origination 16:46 Less obvious investment signals 17:14 Assessing the entrepreneur behind the business 18:13 Vertical software and the threat of AI disruption 20:25 Creating a fast-moving culture without burnout 22:09 Recommended private equity news and content 23:34 How to connect with Blueprint Equity Raw Selection partners with Private Equity firms and their portfolio companies to secure exceptional executive talent. We focus on de-risking executive recruitment through meticulous search and selection processes, ensuring top-tier performance and long-term success. 🔗 Connect with Alex Rawlings on LinkedIn   / alexrawlings   🌐 Visit Raw Selection www.raw-selection.com